If your goal is appreciation and equity then a market like Denver might be better but keep in mind you don't control appreciation and you're really speculating.

My experience is limited, but I hope to contribute as is feasible as I take my licks in this arena.

There are limits to going lower and any of that money that isn't spent on property will be taxed (called the boot).Things get tricky when you do combos as an option, then you run into limits of how much they can be worth etc etc.

I understand your fear of him damaging the property out of anger, but that is beyond your control and you're just fearing the worst.

You could legally form a Limited Liability Partnership that would give you some protections.

I know it has not been easy and I'm sure you can say the same but now I always try to tell myself not to let my fears control my life and you being here is a step in the right direction.

I am assuming you are planning on making everything climate controlled based on your location?

His exposure was limited he said.

The deadline is very strict, and the custodian must receive the money by the deadline.If it's anything other than A or B - there could be some important complications.Once you acquire the property, ideally you should limit your personal use to no more than the greater of: 14 days, or10% of the total days you rent it to others at a fair rental price.If you exceed this number, your tax deductions will be limited.And when I say "personal use" it does not mean just you.

@Aaron cayabyab - FHA Loans have loan limits.